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20121222
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with newark mayor cory booker, anti-tax activist and nra board member grover norquist, peggy noonan of "the wall street journal" and katrina vanden heuvel from "the nation." >>> hello, again. the president and congress are off for christmas fleeing a capitol filled with political rancor and political dysfunction. fiscal cliff talks have completely collapsed. questions about the president's new national security team has forced him to announce the appointments piecemeal and the nra's first response to the tragedy in newtown provoked a fierce debate. we'll cover that starting with the nra's choice to lead a national effort to protect schools, former congressman, asa hutchinson. good morning, mr. hutchinson. thanks for joining us this morning. >> hi. >> you emphasized at the press conference friday you will be independent. but as you begin your effort, this national school shield, initiative, i wonder if you agree with the analysis of the problem laid out by wayne lapierre who says americans have to face this truth. take a look. >> politicians pass laws for gun-free school zones, and in doing
to split, also in croatia. then to amsterdam and back all in business class. >> total cost, just the taxes, $60 each, plus 120,000 frequent flier miles each, which sounds high, but not when you're what rick is, a frequent flier millionaire, one who wants to teach us a few tricks on how to be that millionaire also. >> does anybody in this room sign up for a credit card primarily to get a sign-up bonus? >> reporter: did you know you can get miles by the millions without ever flying? these folks are smiling because they do know that. >> the most important one to be able to say is i have never been late on a payment. >> reporter: the first method, cashing in on credit card bonuses. lots of banks now offer new credit card holders sign-up bonuses of 20,000, 40,000, sometimes 70,000 miles or points. rick teaches that people who have shaky credit who cannot pay their bills in full every month or for applying for a mortgage in the near future should not be playing this game. within the fraternity of extreme frequent flyers, it's controversial that any of these secrets are getting out. but rick star
not due back ununtil sunday. that is two days before the tax increases take affect. boehner is putting the ball in the court and says the house will take action on whatever the senate can pass. the president has spoken to senate and house leaders from both parties but had no plans to meet with congressional leaders tonight or tomorrow. >> three people have filed a federal lawsuit against city of san francisco arks kusing the police department of conducting illegal searches. this occurred at the henry hotel. saying police officers entered room was a master key provided by the hotel, then, began searching through personal belongings without warrants or just cause. thist@2p is camera footage of te searches by public defender last year. the suit filed by civil rights attorney john buress naming four officers. >> a slew of new laws set to hit the books january 1 from new rules on the road to sales tax increases for sm.=i=r? we're live to preview some of the new rules and laws. nannette? californians taxes will go up in just a few days. the income tax will go up for high earners and sales ta
country teetering on the edge of the fiscal cliff you might want to change your tax strategy. advice coming up from michael finney. stay with us. we have a lot more to get to. >>> the health of former president george hw bush is a growing concern. the 88-year-old transfered to houston methodist hospital. he's been at the center ever since a lot of month because of a chronic cough. but he's been fighting a high fever for days. this morning he was put on a liquides only diet. >> no one puts new icu because things are going well we're hoping medicine was help him turn things around. >> barbara bush spent christmas by his side, former president george w bush expected to visit incoming days. >> retailers reeling tonight after holiday sales missed marks. they were expecting shoppers to spend 2% more than last year but turns out sales grew less than 1%. very disappointing. david with, a look the impact on the economy. >> there is no doubt that this is a real blow but kboitsing to impact people making goods retailers put on shelves. dispatting growth is likely tied to conservative gifting. >
st, more than 500 billion dollars in -- in tax increases and more than 100 billion dollars in government spending cuts are set to take effect. what happens january 1st, is less than certain. if congress and the president miss the deadline investors could panic sending the shakey stock market into a downward spiral. businesses and consumers could lose confidence and cutback on spending. a recession would not be immediate as long as all parties are working on a deal taxes and cuts could be kept at bay for a few weeks and repealed retroactively. if they never agree taxes would go up $2400 for families. americans would feel cuts to government services and an estimated 3 boy 4 million jobs would be -- 3.4 million jobs would be lost. while the political blame game continues. >> we are here in washington, working. while the members of house of representatives are out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> i toe the president we'll be happy to look at whatever he proposes. but the truth is we are com
to be going nowhere. the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time for christmas but his condition worsened, he is alert and talking to hospital staff. >>> there is a bright spot for the economy, new homes selling at fastest past in m
say a neighbor helped with the attack. >> late movement on a possible tax cut deal. new details on what could keep the nation from falling off the fiscal cliff. >> there is an app for just about everything, now, being cute on video. >>> there is movement in wad on a possibly tax cut deal that could avoid the dread td fiscal cliff. president met with house and senate leaders from both parties. president obama later revealed senate majority and minority leaders working behind closed doors right now to koum come up with a deal. he says he's optimistic but he talked about a back up plan. >> will urge senator read to bring a basic package to preproe detective the middle class from a hike. >> no details given but sources indicate the president did not make a new offer to republicans and pushed for a bill stopping looming tax increases on families earning less than $250,000 a year. >> a 24-year-old woman charged in qex killing of two volunteer firefighters in upstate new york on christmas eve. dawn nguyen accused of file filing a falsified business record, investigators say charges rel
before taxes go up for all americans and federal programs see major cuts. we've shown you the math here. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. after meeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconne
to see, obviously, the middle class not faced with any sort of tax hike, which there are $500 billion worth of tax hikes expected on january 1st. republicans are saying that spending cuts. they want to see more of that. and democrats do not want to go off of their focus on where they are right now, to get to that point. that's really a big divide that both the white house and capitol hill is facing right now. >> let's look at everyone left for christmas break. this seemed like it was going nowhere. is there any hope over the next few days that a deal is going to be reached? or are we just going straight off the cliff? >> reporter: well, the president says he hopes that members of congress will bring some eggnog and sing some christmas carols and come back. but it looks like it will take more than just some christmas cheer to get them to move off of their positions. the president, before he left, said he remains optimistic that some sort of a deal can be struck. but the reality is, they only have a matter of days. december 31st is when all of this has to be agreed by. and so, the clock
and reforms the tax code. even he seemed to suggest that is virtually impossible now. >> how we get there, god only knows. >> reporter: boehner attempted a so-called plan b last night, a bill that would have extended tax cuts for everybody except millionaires, but his own plan was rejected by his own party, in the face of opposition from conservatives unwilling to see taxes go up on anybody at all. >> reporter: let me get this straight, you won't support raising taxes on people who make over a million dollars a year? >> i won't support raising taxes on any american. >> reporter: people that make $10 million? >> absolutely. >> so with the president heading to hawaii and congress on holiday, how do they come to a deal before the end of the year? >> congress will return two days after christmas, so there's some time, a little time, for them to try to do what they have failed to do for months. as for the president, he said he although he's going to hawaii, he said he will fly back to finalize any deal if there's a deal to be finalized, sometime after christmas and before the new year. but it takes
the government could very well go over that fiscal cliff. now, just five days until everyone's taxes go up. how much for the average american family? here's our chief white house correspondent jon karl tonight. >> reporter: president obama cut short his hawaiian vacation, where storm clouds, real storm clouds, are gathering over the capitol. instead of deal making, it's name calling. the top democrat in the senate, accusing the republican speaker of the house of running a dictatorship. they say they haven't given up, but it sure sounds that way. >> i don't know, time-wise, how it can happen now. >> here we are, once again, at the end of the year, staring at a crisis we should have dealt with literally months ago. >> reporter: vice president biden made a rare appearance in the senate, not to negotiate -- >> i do. >> congratulations, senator. >> reporter: but to swear in a new democratic senator from hawaii. a vote the white house will need if the senate ever gets around to voting on a plan to avert the fiscal cliff. in the house, even less going on. the only hopeful words, from the house chaplai
consumers are waitsing for politicians to agrow on a budget and tax autos where there is that uncertainty, they'll be more conservative in investments and inventories and new store growth but we're going to have some indications of what directions we're going in the next few weeks and days. >> it affects the rest of the supply chain that already are working months head. shoppers sense retailers pampbiced with prechristmas discounts. >> everything now is already the same as what it was before. >> this sounds like they need to move inventory. >> definitely. >> that means stores may in the be expanded and prapts people won't be hired or retained. some retailers hoping that shoppers who receive gift cards might be spending them, soon. >> david, thank you. president obama cut short his christmas vacation in hawaii to return to bash wash -- bash bash. -- washington he's going to work on a deal to avoid the so called fiscal cliff. there are five days remaining before hikes are scheduled to take affect. senate due back in session tomorrow nork indication of new proposals on the table. no word of
republicans. if there is no break through, every american will be hit with higher taxes. a schoolteacher with two kids and a salary of $43,000 will face a tax hike of $3,000. the super rich like lebron james would see his tax goes up more thanhóÁ$2.4 million this year. >> i want us to not go over the cliff. i think it hurts the country. >> middle class people shouldn't have tax goes up?(héq $2,000 a year, we should start making some meaningful reform on debt. >> going over the fiscal cliff mean morz than higher taxes. federal workers at risk of being furloughed and unemployment benefits for two million people could expire saying the nation will fall back into a recession. there are reports hairy reed is now working on a smaller deal than the one the president negotiate yatesed with house speaker john boehner. >> the package reportedly preventing tax increases on middle class families and cut some spending programs but it's not clear such a plan could pass. >> star bucks is using its coffee cups to jump into washington politics. the world's biggest coffee chain asking employees and caf
, sending everybody's taxes up and possibly sending the country into another recession. it's down to the wire with just three days left. and abc's lisa stark has the latest on the last-minute wheeling and dealing being done in washington. good morning, lisa. >> reporter: good morning, bianna. well, the next 24 hours are critical. the president this morning in his radio address, told lawmakers don't let washington politics get in the way of american progress. so, the last-ditch attempt is on the way to put together a deal. and the ball is in the senate's court. there's nothing like a deadline to force action. the president met with congressional leaders friday for the first time in six weeks. then, proclaimed himself modestly optimistic. but warned -- >> the american people are watching what we do here. obviously, their patience is already thin. >> reporter: with the clock running out, here's the game plan. the democratic and republican leaders in the senate will spend day trying to hash out a bipartisan agreement. >> i'm hopeful and optimistic. >> reporter: but if there is no deal
before taxes go up for all americans and federal programs see major cuts. president obama met with republican and democratic leaders yesterday in a high stakes meeting at the white house. senate leaders will debate a new plan over the weekend, hoping to have a deal to vote on by monday. then it will go to the house. the president said a deal is critical for the nation. >> economists, business leaders all think we are poised to grow in 2013 as long as politics in washington don't get in the way of america's progress. so we've got to get this done. >> in the event congress does not make a deal, here's how the fiscal cliff could affect you. first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend less on fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shoppers into their stores. >> the bowl game is al
and maryland. >>> there are fewer than three days left before taxes go up for almost all americans and several programs see major cuts. president obama met with republican and democratic leaders yesterday in a high stakes meeting at the white house. senate leaders will debate a new plan over the weekend, hoping to have a deal to vote on by monday. then it will go to the house. the president said a deal is critical for the nation. >> economists, business leaders all think we are poised to grow in 2013 as long as politics in washington don't get in the way of america's progress. so we've got to get this done. >> in the event congress does not make a deal, here's how the physical cliff could affect you. first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend lesson fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shop
, now, to the fiscal cliff getting closer. just ten days until everybody's taxes go up and spending cuts kick in. and washington's a ghost town with no deal in sight. talks halted until after christmas, leaving just a few days to bang out some kind of plan before the deadline. abc's david kerley has the latest from the white house. david, before leaving us on the holidays with his family, the president urged lawmakers to find some common ground for these coming days. but it doesn't seem to be happening right now. >> reporter: the president in that same message, gave up on the big deal for right now. he wants a stop-gap measure to keep taxes from going up. and a framework for a deal next year. and the president's not in this house, either. this morning, the president arrived in his home state of hawaii for the holidays. before leaving, he told members of congress to cool down. have some eggnog and christmas cookies and come back and make a deal. >> nobody can get 100% of what they want. and this is not simply a contest between parties, in terms of who looks good and who doesn't. there are
likely we will go over the fiscal cliff following the failure of joan boehner to get higher taxes on wealthy americans. if the president and congress can't agree, government spending cuts and tax hikes will kick in automatically. market watchers feel it could push the competent back into recession. >> carolyn: instapgram has triggered a class action lawsuit. the claim was filed against facebook that owns the service. infagram that changed its terms of service. idea was abandoned after an outcry from users. lawsuit alleged they breached the contract with users in tweak that go policy. facebook has not responded to the suit. >> dan: a new requirement that forces california lawmakers to drive their own cars for legislative business is paying off. they report the state has saved $240,000, n taxpayer money since the new rule went into effect one year ago. california lawmakers were given a car paid by the state. this year that practice ended. they must drive their own cars, the savings was achieved because many legislators cut their driving habits in half. >> carolyn: big television scr
the tax hikes and spending cuts from aching effect january 1st. meanwhile, connecticut's independent senator, joe lieberman, expects congress to work right up until the new year's eve deadline. he's not sure that will be enough. >> it's the first time that i feel like it's more likely that we'll go over the cliff than not. if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. >> the president and congress are on short holiday breaks. they're due back later in the week. one possibility in all of this mess is a partial deal on taxes while putting off agreement on spending until some time down the road. >>> former president george h.w. bush may be spending christmas in the hospital. he's been there since thanksgiving. he's battling bronchitis and a lingering cough. doctors say he's in stable condition but needs to build up his energy. >>> south africans are sending warm wishes to former president nelson mandela. he's been in the hospital for more than two weeks with a lung infection. he also has gall stone surgery as
would echo through the empty halls. >> the president's solution of raising taxes -- >> reporter: the republican leader of the senate took a holiday swipe at democrats. >> i'm stuck here at washington. trying to prevent my fellow kentuckyians from shelling out more money to uncle sam next year. >> reporter: we're learning more tonight about how the negotiations fell apart. the wall street journal quoting unnamed sources said that when the speaker offered $800 billion in revenue by limiting deductions the speaker asked, what do i get? the president reportedly responded, you get nothing, i get that for free. unable to agree on a big deal, on taxes and entitlements, the president is now hoping to get a small deal, extend middle-class tax rates and agree to a framework for a big deal. >> that's an achievable goal, that can get done in ten days. >> reporter: can it? consider the speaker's other words which are really echoing about making a deal. >> how we get there, god only knows. >> the president wasted no time getting into vacation mode. he went golfing today in hawaii. white house
, all of the tax base if they're to lose jobs. it's oo local restaurants and retailer as cross the street from the main entrance stand to lose good customers. another concern is what a large relocation will do to the real estate market. and she points out many moved here from lower cost area autos they ended up renting homes so it's going to be vaikance yeez on rentals or on homes but we have waiting lists for rentals. and our homes have multiple offers so i don't think we're going to have issue autos in a carefully worded e mail, chevron says business needs be routinely reviewed and seemed to indicate that remaining bay area jobs are not likely to move to houston. the mayor recognizes the decision is probably a done deal, but still would like to talk to executives to find out what he can learn to prevent more jobs from leaving the area. in sab ramone, abc 7 news. >> and this shuffle of jobs should not have an affect on the local unemployment rate. figures show california jobless rate now at 9.8% and that is the first time it dipped below 10% since reet session began. >> a farm
fingers over who is to blame for the lack of progress to prevent tax hikes and spending cuts. connecticut's independent senator joe lieberman expects congress to work right up to the new year's eve deadline. but he's not even sure that's going to be enough. >> it's the first time i feel it's more likely we will go over the cliff than not, and if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. >> the president and congress are on short holiday breaks right now. due back later in the week. one possibility is a partial deal on taxes while putting off an agreement on spending, therefore kind of kicking some of the can down the road, once again. >> and that seems to be what congress is good at. no problem ever gets solved. there's no grand bargain. we heard that term tossed around. seems like we just do a little bit and then say oh, we'll get to it by summer and get to it by the fall. and nothing substantive really gets done. it's a sad state of affairs. this is the result of when folks cannot take off the partisan war p
on gridlock. >> sticking point continues to be tax cuts z in starting to look like no deal before the january 1 deadline. this may already be too late. five days until the fiscal cliff. hairy reid admitted a deal seems unlikely. >> i have to be honest. i don't know time wise how it can happen now. >> reid called john boehner a dictateor and paintin painting -- pointing blame on him. >> we're here in washington working. wile members of the house of representatives are out watching movies and watching the kids play soccer and baseball. john boehner seems to care more about keeping his speakership. >> the republican leader says the democrats have failed. the only reason democrats have been trying to deflect attention on to me and my colleagues over the past few weeks is that they zront a plan of their own. >> the president return forward a last minute push before leaving on vacation in hawaii. he had separate phone conversations but it isn't clear talks helped. >> hopefully there is time for an agreement of some kind. >> washington's failure threatens to undermine the fragile economic recovery.
. we heard a lot about taxes that will increase. what do we really mean? >> reporter: everybody will see their taxes go up. here are three examples. you have a teacher with two kids making $43,000 a year. taxes will go up by $3,000. a member of congress, they make $174,000 a year. their taxes will go up just next year, $7,500. and lebron james, you know, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minutes before the deadline clears. are we already past the point of no return? >> we are already virtually certain that we're going to go over this fiscal cliff. these guys suddenly came to an agreement over the next few days, they could pass it at the beginning of january. and we could not see many of the impacts. but i wouldn't be optimistic about that. >> jonathan karl, i have a feeling i'll see you here around 7:07 tomorrow morning. thank you, jon. >> amy? >>> let's go to paula faris with the ot
capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it can happen now. >> reporter: senate majority leader harry reid]vtkÑ lashed ot at speaker boehner accusing him of running a tar forship. >> john boehner seems to -- >> reporter: republican leaders blame democrats for the standoff and say there are limits to a compromise. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehner call the house back into town for an unusual sunday session. members of congress understand the
in the capitol and would echo through the house. >> the president's laws of raising tax rates would still leave -- >> the republican leader took a rhetorical holiday swipe at democrats. >> i'm stuck here in washington trying to prevent by fellow kentuckians from having to shell out more money to uncle sam next year. >> we are learning more about how the negotiations fell apart. unnamed source said when the speaker offered $800 billion in revenue by limit being deductions, the speaker asked what to i get? the president reportedly responded you get nothing. i get that for free. unable to agree on a big deal on taxes and entitlements, the president is now hoping to get a small deal. extend middle class tax rates, extend some unemployment benefits and agree to a framework for a big deal. >> that's an achievable goal. that can get done in ten days. >> can it? consider speaker boehner's other words which are really echoing about making a deal. >> how we get there, god only knows. >> the president wasted no time getting into vacation mode. he played golf on saturday. white house officials tell me that
introduce if no deal is reach. >> put a deal on the floor making sure taxes on middle class families don't go up, unemployment insurance is available for two million people and lays ground work for additional deficit reduction and economic growth steps we can take in the new year, let's not miss this deadline that. is the bare minimum we should be able to get done. >> we've been looking at the cost of going over the fiscal cliff. we showed you aá](ny calculatoro help you estimate how much your taxes will go up. we'll take a look at how spending cuts will impact californians, in the bay area. >> mark, thank you. >> our other top story is the weather. another storm system hitting parts of the bay area, reservoirs are now at capacity because of the rain. >> here is a live look from our camera. looking north at the bay, and you can see there is cloud cover there. sandhya patel is tracking the storm's path on doppler 7 hd. >> i want to show you where sit raining now. not everyone is seeing moisture reaching the ground. as we take a look, you'll see where the moisture is actually
would mean deep spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts, from school supplies to artwork, have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today in salt lake city. the 200 teachers come from districts across utah. they have volunteered for the concealed weapons training. it's offered every year. organizers say in past years, only a few dozen teachers attended the training. they're expecting an overflow crowd because of this month's tragedy in newtown, connecticut. >>> the two firefighters hurt in that deadly shooting near rochest rochester, new york, are doing better. west webster volunteer firefighters, who had been in guarded condition, are now being upgraded to satisfactory condition. the hospital released a statement on
in the sand. we'll explain his plan for averting a tax hike. >> thank you for calling. >> i team reveals why a state agency is too busy to take your calls. >>> a late afternoon meeting brings progress towards avoiding the fiscal cliff. tonight abc 7 news mark matthews has been looking into the cost governoring over the live cliff. >> remember, last year it? was part of a deal to end the debt ceiling crisis. congress agreed to steep a spending cuts going into reduce the deficit. cuts now are just around the corner. >> the president says he's optimistic but did f.a deal can not be reached he'll tell hairy reid to introduce a fall back bill. >> put a bill making sure tax on middle class families don't goup, that unemployment is available for two million people z that lays ground work for additional deficit reductions and economic growth steps we can take in the new year. >> the bill, as the president calls bare minimum isn't what many hoped for, pushing off until next year, larger pron lems of dealing with the cuts. the study by george mason university found cuts will result in two million jobs
, both sides, now, looming, four days from the fiscal cliff. everybody's taxes will be going up if we go over it. drastic budget cuts will be going into effect. and leaders in washington have agreed to talk there's a meeting scheduled this afternoon at the white house. abc's chief white house correspondent, jonathan karl, joins us now to tell us what we can expect today. both sides agreeing to meet. we want to take a listen to sound from both sides. the looks of things, no one may be getting too far down the road. first, let's listen to what senate minority leader mitch mcconnell said yesterday on the senate floor. >> i told the president we'd be happy to look at what he proposes. but the truth is, we're coming up against a hard deadline here. and republicans aren't going to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> meanwhile, the senate majority leader, now, had even harsher words for gop leadership. >> the house of representatives is operating out the house of representatives. it's being operated with a dic
. eight days until we head over it, when just about everyone's taxes will go up. rather than moving together, the two sides seem to be literally moving further apart. the president in hawaii for the holiday, congress left the capital with no deal in sight. jon karl is in washington. they needed to get it done before new year's to see this thing get done. has the time to have that happen already passed? >> well, it's getting -- there's not much hope out there. i gotta tell you. just over a week left, josh. and the speaker of the house and the president did not even speak over the weekend. the last time they had a conversation was a brief phone conversation on friday. no signs of progress on anything since then. there wasn't much before, as you know. now the white house is looking at a fallback plan. just a stop-gap bill they're hoping congress would do that would delay the tax increases on people making over $250,000 from going into effect. it would extend unemployment benefits and delay spending cuts going into effect on january 1st. even accomplishing that will be difficult. congre
than a week to come up to agreement on how to avoid tax increases and spending cuts set to go into effect january. the first lady and the couple's two daughters will remain in hawaii for another 10 days. >>> for the first time starbucks' employees are being asked to write other than names on cups. the chain is asking employees in washington, d.c. to scribble the words "come together." as a message to lawmakers to settle the fiscal cliff. >> some spots blue skies, some parts grey clouds. >> interesting the colors you will see out there rainbow colors out there and we've had some in the south baylor, i'll show you one from mountain view, san jose we just had moderate rain roll through downtown, darker clouds off to the west there and that's what is going to head up into the santa cruz mountains shortly. one other advantage point, at least this side of san francisco, we are on the embarcadero side at front and vallejo streets where it looks quiet. if you look back the other way, rain coming in. san francisco heading out here any second the -- let's look at live doppler, overall p
's little room for error because it's the cents that really matter. >> after taxes, if you can make five cents on every dollar you sell, the pennys are important to us. it's amazing. >> reporter: being fast and efficient are one of the secrets to their success. the winning formula begins in tiny towns, underserved communities walmart and target wouldn't give a second look. they garble up cheap real estate, empty buildings other retailers have left behind. then they hire a small work force. each store may have only two people working at a time. there's almost no advertising. no fancy commercials. an in-store circular lists all the deals. and their final secret, a laser-like focus on the customer. >> you design the store around her. >> reporter: in fact, every other word out of president mike bloom's mouth is a single pronoun. >> we needed to get what she needs it. she's out buying what she needs. >> reporter: you keep saying she. who is she? >> 87% of our customers are women. we think about her all the time. customer, customer, customer. >> reporter: she is the noun in just about all of y
to an agreement on how to avert tax increases set to go into effect in january. . >> in new york police have found a bed in the burned out home of the man who killed two firefighters monday. the victim is believed to be the gunman's 67-year-old sister. a vigil was held monday night for the firefighters. two other firefighters in the hospital. police say ex-convict william spengler armed himself with three weapons and set his house on fire to lure first responders into a trap he kill himself. police say he left a rambling three page note saying he wanted to burn down the neighborhood and kill as many people as possible. he did not give a motive >> the world'sdhfhñ longest high speed rail line is up and running in china. the first bullet train left beijing this morning. the line connects the capital city with the commercial southern hub. the rail line is designed for top speeds of over 200 miles an hour. what used to take 22 hours will now take eight. >>> coming up, another holiday begins today where you can take part in the bay area's largest kwanzaa celebration. >>> set back for california educat
protection district decided to close the stations after voters rejected a temporary parcel tax in november. closures affect stations in clayton, lafayette, martinez and walnut creek. the meetings will start january 7th, in lafayette, a week before the first closures take effect. 24 other stations will remain open. >>> this morning a san jose high school band will rehearse one final time before heading to southern california this afternoon to perform in the tournament of roses parade. ♪ ♪ ♪ ♪ >> san jose's valley christian high is not only marching in the parade but the first band to team up with performers from another nation, high school in beijing, before yesterday the only time the two groups met face-to-face was on a visit to china that valley christian made in april. the school provided this video the two bands have been practicing for more than a year. while language is a barrier, music is the common denominator. >> very excited about the opportunity, the challenge is the limited rehearsal time that's what we are doing. >> you can watch the valley christian-beijing fusion ban
left for taxes to go up for all-americans. the president met with republican and democratic leaders today to discuss a time frame for the next few days. it starts with the senate leaders who are currently discussing the plan. they hope to have a deal ready for review and possible vote on monday. and then it would head to the house. the president says a deal is critical for the country. >> economists, business leaders all think we are poised to grow in 2013. as long as politics in washington don't get in the way of america's progress. so we've got to get this done. >> in the event congress does not get it done, does not make a deal, here is how the physician physician -- the fiscal cliff could affect you. a middle class family would pay $2,000 more per year. gas prices will likely fall because people will spend less on fuel. you may see longer lines at the airports. budget cuts could leave the tsa with fewer checkpoint and retail prices may fall because declining consumer confidence would push down prices to get shoppers in the stores. we shall see. the clock is ticking. >>> moving o
mandatory budget cuts and tax increases kick in january 1st. >>> new senator representing hawaii will arrive on capitol hill today. lt. governor will fill the seat left vacant by the death of senator daniel inouye. he was chosen from a list of three yesterday. the 40-year-old has served as state lawmaker and chairman of the hawaii democratic party. he will serve until an election in 2014. >>> lance armstrong has until today to appeal the ban imposed on him. he lost his seven titles december 6th, when the international cycling<ç÷%Ñ union banned him from the sport for life. penalties came after the united states anti-doping agency hit him with similar sanctions for using banned substances. armstrong did not appeal. it appears he won't challenge this latest ban. >>> gun buy-back in los angeles is being called a huge success. you can see why. cars wrapped around several blocks as people waited in turn to turn in their firearms. guns for groceries is normally in the spring but the mayor moved it up to take advantage of the outrage against the connecticut school shooting. guns were exchanged fo
before we go over the fiscal cliff and everybody's taxes go up. i'm sure a lot of us feel they shouldn't be taking off. >> let's bring in george stephanopoulos. great to see you, george. things are coming down to the wire. what are the odds they can come up with a deal especially republicans can't agree. >> those talks completely collapsed this week and ended once and for all when john boehner couldn't even pass his backup plan in the house on thursday. the only possibility right now would be some kind of a very small -- some measure that would just extend the tax cuts for everyone earning under $250,000. it should be a lot of protection for a lot of people but even that will be difficult. you get it only if there's a promise not to filibuster that in the senate and the house speaker agrees to take it up. both of those questions are very open right now. >> a lot of open questions and high establishes for a lot of people. let me ask you about another big issue in washington right now. in this toxic environment any chance that the president can make any headway on his desire to change th
of congress to work towards a package that spreads tax hike on middle class americans, protects unemployment insurance for two million americans and lays the groundwork for further work on growth and deficient the city reduction. >> president's solution of raising tax rates could be red ink for as far as the eye can see. >> reporter: the partisan bickering has put the country on the brink of potential economic crisis. >> it is the first time that i feel it is more likely that we will go over the cliff than not. that, if we allow that to happen, it will be thekñg)p mot colossal consequential act of congressional responsibility in a long time. >> reporter: president obama is in hawaii for christmas. he says, he will cut his vacation short to try to hammer out a deal. the deadline a week way andrew spencer, reporting. >>> president obama is giving federal employees a present, he's issued an executive order giving workers at most federal departments the day off today, it excludes workers who have to remain on duty for reasons of national security, defense or other public need, many of presiden
deal. stepped middle class tax rates, extend some unemployment benefits and agree to a framework for a big deal. >> that's an achievable goal. that can get done in ten days. >> can it? consider speaker boehner's other words which are really echoing about making a deal. >> how we get, god only knows. >> the president waisted no time getting into vikes mode. the played golf an saturday. white house officials say staff members from both side will exchange e-mails and phone calls over the next couple of days. congress is expected to be back at work on thursday. abc news, the white house. >> ama: public visitation is underway for the late senator dan all inouye in washington, dc. the casket arrived in honolulu today. inouye who lost an arm in world war ii and was the first japanese american to be elected to senate, died on wednesday. >> a boston police officer claimed she was just doing his job when he dove into icy waters to save a drowning woman. someone used a cell phone to capture the officer's heroics. he heard a woman crying for help yesterday in boston's four point channel so h
tonight. lawmakers have less than a week to agree on how to avert tax increases said to go into effect in january. >>> holiday gift-giving season brings a fresh crop of electronic waste. christmas doesn't bring many happy returns, especially today. >> here's this morning's bloomberg business report. >>> good morning. christmas is over, let the returns begin say you are not a big fan of that sweater from your aunt you may want to wait a few days before heading back to the stores, the day is the worst day to return unwanted gifts the lines are the longest, clerks burned out from the holiday madness. holiday retail sales up less than a percent from last year, worst than what had been expected. worries over the if can and hurricane sandy disrupting shopping. don't forget to recycle old devices you don't want. a company called green citizen tells bloomberg it expects to see a 30% rise in e-waste between now and february. tomorrow lawmakers head back to washington to continue tackling the fiscal cliff stocks continue to fall on growing concern time is running out to come to a budget agreemen
lower and the backdrop is what is happening or not in washington. get this, new tax established by affordable care act on medical devices from syringes to pacemakers may cause manufacturers to dodge requirements they register with the fda some companies could find ways to avoid listing devices that would be subject to fda approval to avoid the tax. experts say the fda may have to rely on complains from third parties to find out about -- companies that evading the requirements. ellen brightman, new york stock exchange. >>> everybody is hoping the rain holds off, it holds off today, better part of tomorrow, keep our fingers crossed. you can see some of the fog moving about this morning thickest north bay valleys, tiburon, belvedere over to about oakland this morning. clouds gone so is the rain, dry now rotating you can see it up there scan being the skies looking for that next storm from the west tomorrow afternoon. let's talk about right now. temperatures running mainly in the 40s and 50s out there. heads-up on guerneville and napa river, russian river guerneville and napa river
the empty hauls. >> the president's solution of raising tax rates would still be ready -- >> the republican ledder took a swipe at democrats. >> i'm stuck here trying to prevent my fellow kentuckians from having to shell out more money next year. >> when the speaker announced $800 billion in revenue by limiting deductions, the speaker asked what do i get? the president responded you get nothing, i get that for free. and the president is now hoping to get a small deal. extend middle class tax rates, extend some unemployment benefits and agree to a framework for a big deal. >> that's an achievable goal. that can get done in ten days. >> can it? consider speaker boehner's other words which are really echoing about making a deal. >> how we get there, god only knows. >> the president wasted no time getting into vacation mode. he played golf on saturday. staff members from both sides will exchange e-mails and phone calls over the next couple days. congress expected to be back at work on thursday. david curly, abc news, the white house. >> president obama is expected to attend the late senator dan
is expected to include an extension of the middle class tax cuts with increased rates at upper incomes. spending cuts could also be canceled. ahead of those talks, plenty of blame is being spread around already. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> hopefully there's time for an agreement of some kind. >> speaker john boehner called the house back into session for a highly unusual sunday evening session just in case. >>> an unexpected consequence of the fiscal cliff stalemate could mean sticker shock at your grocery store. milk prices could soon spike to $8 a gallon. wow. congress has been so bogged down with the fiscal cliff, the farm bill is still on the table. if congress does not pass it, dairy subsidies would immediately end on january 1, and those subsidies have been keeping milk prices low for 63 years. >>> the price of curbside parking in chicago is going up january 1. parking meters will charge $6.50 an hour in the downtown area. chicago will have the highest parking meter rates in the country, ta
. and then there's the issue of the fiscal cliff and higher taxes. >> i think the worries of what we're going to be dealing with at the end of the year has curbed our spending, for sure. >> reporter: retailers today are trying to outdo one another with deals, often better than what was offered the day after thanksgiving. amazon offering a 46-inch tv, marked down 44% for just $338. best buy is cutting the price of a nikon camera. and a cashmere sweater from bloomingdale's, just $89.99. last year shoppers spent more than $7 billion on the day after christmas. bargains have become a post holiday tradition. whether you're shopping in stores or surfing for discounts and free shipping from online venders, retailers are looking for you on what may be the fifth busiest shopping day of the year. brad wheelis, abc news, los angeles. >> i think you have the right idea. we should go shopping when we're done. online venders still offering free shipping. just go online and find the coupons. it's that simple. >> yes. from shopping to the big games, coming up, we'll take a look at the nba games that were tak
to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm programs will expire at the end of the year. some are calling that dairy cliff. live in new york, wendy gillette. >> wendy gillette in new york. thank you. >>> the country has lost one of its great warriors. tributes are pouring in this morning for retired general norman schwarzkopf. the general died yesterday in tampa after a battle with pneumonia. schwarzkopf commanded "operation desert storm" that drove iraqi forces from kuwait. in retirement, he championed causes. norman schwarzkopf was 78. >>> now, to former president george h.w. bush's condition. his chief of staff says he will be in the hospital for a while. the 41st president is recovering from a terrible case of bronchitis with a series of complications. she says tha
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